Sustainable Growth Advisers LP Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Sustainable Growth Advisers LP cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 23.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,092,975 shares of the coffee company’s stock after selling 652,011 shares during the quarter. Sustainable Growth Advisers LP owned about 0.18% of Starbucks worth $190,984,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBUX. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at $25,000. Collier Financial purchased a new stake in Starbucks in the fourth quarter valued at $27,000. Marshall Investment Management LLC purchased a new stake in Starbucks in the fourth quarter valued at $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks in the fourth quarter valued at $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in Starbucks in the fourth quarter valued at $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 2.7 %

SBUX stock opened at $96.04 on Friday. The company has a market cap of $109.09 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a 50-day moving average of $104.71 and a two-hundred day moving average of $99.20.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.